Healthcare of Ontario Pension Plan Trust Fund Purchases 88,000 Shares of Flowserve Co. (NYSE:FLS)

Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Flowserve Co. (NYSE:FLS) by 345.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 113,500 shares of the industrial products company’s stock after acquiring an additional 88,000 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned about 0.09% of Flowserve worth $4,678,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Hennessy Advisors Inc. acquired a new stake in Flowserve in the 4th quarter valued at $22,321,000. Vanguard Group Inc. lifted its stake in shares of Flowserve by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 13,405,458 shares of the industrial products company’s stock valued at $552,573,000 after buying an additional 144,704 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of Flowserve in the fourth quarter valued at $199,000. Raleigh Capital Management Inc. grew its holdings in shares of Flowserve by 122.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 1,083 shares of the industrial products company’s stock valued at $45,000 after buying an additional 596 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of Flowserve by 717.3% in the 4th quarter. Cubist Systematic Strategies LLC now owns 394,975 shares of the industrial products company’s stock worth $16,281,000 after acquiring an additional 346,651 shares during the last quarter. 93.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Flowserve

In other news, CEO Robert Scott Rowe sold 42,269 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $49.98, for a total value of $2,112,604.62. Following the completion of the transaction, the chief executive officer now directly owns 407,243 shares of the company’s stock, valued at $20,354,005.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.72% of the stock is owned by company insiders.

Analyst Ratings Changes

FLS has been the subject of a number of analyst reports. Mizuho reiterated a “buy” rating and set a $53.00 price target (up previously from $50.00) on shares of Flowserve in a research note on Wednesday, May 1st. Robert W. Baird lifted their target price on Flowserve from $50.00 to $57.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Stifel Nicolaus increased their price target on Flowserve from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. StockNews.com upgraded Flowserve from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 12th. Finally, TD Cowen increased their target price on shares of Flowserve from $50.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.55.

Flowserve Trading Up 1.5 %

NYSE:FLS opened at $47.84 on Wednesday. The firm’s 50 day moving average is $48.00 and its 200 day moving average is $44.15. Flowserve Co. has a 12 month low of $35.23 and a 12 month high of $50.49. The stock has a market capitalization of $6.30 billion, a PE ratio of 27.03, a price-to-earnings-growth ratio of 1.20 and a beta of 1.44. The company has a current ratio of 1.88, a quick ratio of 1.28 and a debt-to-equity ratio of 0.58.

Flowserve (NYSE:FLS) last announced its quarterly earnings data on Monday, April 29th. The industrial products company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.11. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.04 billion. Flowserve had a return on equity of 15.50% and a net margin of 5.29%. The firm’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.40 EPS. Sell-side analysts expect that Flowserve Co. will post 2.66 earnings per share for the current year.

Flowserve Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.76%. The ex-dividend date is Friday, June 28th. Flowserve’s dividend payout ratio (DPR) is presently 47.46%.

Flowserve Company Profile

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, Europe, the Middle East, Africa, and the Asia Pacific. It operates through Flowserve Pump Division (FPD) and Flow Control Division (FCD) segments. The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket services; and equipment services, including installation and commissioning services, seal systems spare parts, repairs, advanced diagnostics, re-rate and upgrade solutions, retrofit programs, and machining and asset management solutions, as well as manufactures a gas-lubricated mechanical seal for use in high-speed compressors for gas pipelines and in the oil and gas production and process markets.